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US Builder Confidence Breaches Key Threshold In Still Distorted Market
For the first time since a brutal three-month Treasury selloff drove mortgage rates near 8%, more US homebuilders believe conditions are good than poor.
The NAHB's gauge of builder sentiment registered 51 for March in Monday's only notable economic release out of the world's largest economy.
It was the first reading above 50 since July, and marked the fourth consecutive monthly increase.
The color accompanying the update told a familiar story. "A lack of existing inventory that continues to
I do wonder what impact the NAR settlement is going to have on the housing market broadly. I can see an opportunity for a Zillow to scoop up some of their business on the buy and sell side. And I also read that this settlement may not go far enough to deter the DOJ from getting involved and investigating what led to the guaranteed 5-6% commissions on both sides of the transaction.